Automating Stop, Target, and Break-Even Management for Scalping

Summary

The document describes a trading assistant intended to manage protective orders for scalping. After a trade opens, the tool sets initial stop-loss and take-profit levels automatically. If price moves far enough in the favorable direction, it shifts the stop toward the entry price, aiming to reduce the chance that an open profit becomes a loss while the trader is away.

Two settings control the break-even behavior: the favorable price distance that triggers the move and the stop's offset from entry. The document specifies that inputs use points rather than pips. It gives no evidence from testing, no performance results, and no rules for choosing the settings. It also does not specify how the tool handles spreads, slippage, different instrument point values, or rapid price changes, so the description alone is not enough to assess execution or risk outcomes.

Key ideas

• The assistant places initial stop-loss and take-profit levels after a trade opens.
• A favorable price move can trigger an automatic stop adjustment toward entry.
• The trigger distance and stop offset are configurable in points rather than pips.
• The document provides no tests or guidance for selecting settings across instruments.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.